OREA is on the job all year long. We represent the interests of retired teachers at the legislature, the governor's office, retirement and health insurance boards, state pension commission, and more. OREA listens to you and gives voice to your needs and concerns. Opportunities for active involvement are afforded to members eager to participate in OREA's advocacy programs.
Dear OREA Leaders:
The first week of the session has come and gone.
First, the good news: HB 1340 was on the Agenda in the Banking, Financial Services and Pensions Committee. Representative McDanial is the chair of that committee. The bill has been amended from its introductory language and would include a 2% stipend for TRS recipients (with a maximum of $750). The first stage of the process for this type of legislation requires an actuarial study under the OPLAAA (Oklahoma Pension Legislation Actuary Analysis Act) requirements. Therefore, in 2018, the legislature could vote to pass this bill to provide the stipend to retirees. Yes, it's a slow process, but the first hope in several years of being able to provide some additional financial support to retirees. So, the first hurdle has been crossed.
As of the writing of this update, we don't yet have an agenda for next week's BFS&P Committee meeting, but